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KCSMMHZ
Nov 1, 2012 2:30pm PDT
the pieces after sandy, barack obama hits the campaign trail again. >> bayern-munich rocked to victory. >> the chris parliament has made it clear the budget for the european union must be reduced. >> members of parliament delivered an embarrassing defeat to prime minister david cameron late on wednesday in what the press there is calling kamins fright night. >> cameron has been calling for an eu budget freeze, but members of his own conservative party revolted, demanding brussels trim its spending. >> we have more now on the vote and the fallout beginning in london. >> when the vote was read out, it was a stunning defeat for the government. the opposition labor party is rubbing its hands in glee. 53 of david cameron is -- cameron's own party refused to toe the line, pushing through the amendment. kamen wants to freeze the eu budget over the next seven years, but these skeptics say a freeze does not go far enough. they want to see cuts in real terms. opposition labour is supporting the call. while wednesday's parliamentary vote to cut your spending is not binding, it is a significant ch
KCSMMHZ
Nov 30, 2012 2:30pm PST
obama appeared at a factory in pennsylvania making his case for raising taxes on top earners and accusing a handful of republicans of holding up a deal. if a deal is not reached by december 31, a $600 billion combination of tax increases and spending cuts goes into effect. let's get a check now on how the markets reacted to all of that news. our correspondence sent us this report from frankfurt. >> the dax climbed for about 2% this week, and share prices have been pushed mainly by the rescue package for greece, but at this last trading day of the week, trading has been quite low. the positive trend continued, although there has been some bad news coming in, like the record high unemployment rate in the euro area and the fact that u.s. consumers spend less money in october. nevertheless, the mood is fine. investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. e
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